[m.youssif]

Intraday in USD/CHF remains on the downside with 0.8695 minor resistance intact and current fall should be targeting 100% projection of 0.9774 to 0.8921 from 0.9339 at 0.8486 next. On the upside, above 0.8695 minor resistance will turn bias neutral and bring recovery. But upside should be limited by 0.8895 support turned resistance and bring fall resumption.

In the bigger picture, whole decline from 1.1729 is still in progress and is expected to develop into a five wave impulsive pattern, with fall from 1.0065 as third leg. 61.8% projection of 1.1729 to 0.9462 from 1.0065 at 0.8664 is already broken and USD/CHF should now target 100% projection at 0.7798. On the upside, break of 0.9339 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

[m.youssif]

Intraday in USD/CHF remains on the downside with 0.8695 minor resistance intact and current fall should be targeting 100% projection of 0.9774 to 0.8921 from 0.9339 at 0.8486 next. On the upside, above 0.8695 minor resistance will turn bias neutral and bring recovery. But upside should be limited by 0.8895 support turned resistance and bring fall resumption.

In the bigger picture, whole decline from 1.1729 is still in progress and is expected to develop into a five wave impulsive pattern, with fall from 1.0065 as third leg. 61.8% projection of 1.1729 to 0.9462 from 1.0065 at 0.8664 is already broken and USD/CHF should now target 100% projection at 0.7798. On the upside, break of 0.9339 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.